Predictive Maintenance Can Help Reduce Operational Costs
Low levels of predictive maintenance on existing infrastructure often leads to higher operational business costs and lower customer retention rates. Manually reaching out to multiple suppliers for every single RFP is an antiquated process. Customers that aren’t getting a reliable service are more likely to switch to another energy provider. To increase customer retention, maintenance needs to be carefully measured, monitored, and completed with little or no adverse disruption to customers. Zentility believes there is a new era in a digitally-led contract maintenance approach for energy companies. The future of brokering is using technology to provide intelligent, data-driven solutions through intuitive, digital reporting.
“While the Energy and Utilities industries may not seem like the most obvious places to look when it comes to automation and artificial intelligence, they are some of the biggest potential adopters of these technologies.”
Customer Churn is on the Rise
Smart businesses are taking note of customer churn and retention, as this winter could be a costly one for customers with their Energy providers. It’s a more pressing issue than ever before as customers grow more selective about where they spend their money. Churn is an issue that most businesses face at some point in time—it can occur for a few different reasons: price, poor customer service, poor product quality/reliability or lack of innovation are all things that can make customers unhappy enough to leave your business for good. There’s no question that turning lost customers into lifelong consumers is vital to your business’ success, so you should take any action possible to retain them. You need those repeat sales from settled customers! Zentility’s proprietary technology helps secure your customers long-term.
“The industry needs to harness digital technologies based on rapidly changing customer demands and the need for real-time communication. The industry has many players, so the technologies, challenges, and transformations are different for all players in the utility chain.”
Process Costs and the New Industrial Curse: Manual Processes
Process costs can be defined as operations that have little or no automation. This leads to higher risks of inaccuracies or accidents because workers lack access to the correct procedures. Manual processes lead to human error which is costly in both time and money. For example, a broker spends on average five hours manually compiling and organizing all of the data and reaching out / following up with multiple suppliers, analyzing the results, creating presentations, and combating post-transaction issues. With our technology, the software can do the same amount of work in minutes.
Zentility can help you deploy the technologies, application, analysis, and presentation of such business-critical information in a streamlined and truly user-friendly way. It can work for teams on the ground, for managers looking for operational excellence, and for executives who need to make crucial business decisions in a fast-changing energy landscape.
Customer Service and Automated Support
Customer support can be automated much more than other facets of a business. Machine learning technologies are increasingly making it possible to automate complex parts of customer support, such as being able to reassure customers that action has been taken and tracking results, or even analyzing power consumption and costs. Zentility is harnessing the power of data to overcome these challenges for energy companies nationwide.
The energy industry is facing many challenges as it adapts to new regulations, pressures on profits, and customer demands. One trend that is helping energy companies mitigate these risks is automated renewals and predictive market monitoring. Zentility deals with these challenges every single day and knows how to drive value from the solutions which address the above challenges. Why not ask them yourself?
Written by Ryan Peusch
CEO at Zentility
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